Black Bear Transmission LLC, a portfolio company of the second Basalt fund (Basalt), has announced that it has completed the acquisition of Ozark Gas Transmission, LLC (OGT) and Ozark Gas Gathering, LLC (OGG) from a subsidiary of Enbridge Inc. (Enbridge).
OGT owns and operates a 367-mile, FERC-regulated interstate natural gas pipeline transportation system. The system extends from southeastern Oklahoma through Arkansas to southeastern Missouri and has significant interconnectivity to major long-haul natural gas pipelines. OGG owns and operates a fee-based, 330-mile natural gas gathering system that connects regional production into OGT’s pipeline.
“We are very excited to add the Ozark pipeline and gathering system to the Black Bear Transmission portfolio,” said Rene Casadaban, Chief Executive Officer of Black Bear Transmission LLC. “This investment expands our asset base of high-quality, demand-driven natural gas pipelines serving utilities and other key end-user customers across the southeastern United States. We look forward to working with the Ozark operations team to continue providing safe and reliable service to all of the Ozark customers.”
The terms of the transaction are not being disclosed.
Barclays served as exclusive financial advisor to Basalt and Morgan, Lewis & Bockius LLP served as Basalt’s legal advisor. TD Securities served as exclusive financial adviser to Enbridge and Norton Rose Fulbright US LLP served as Enbridge’s legal advisor.
Read the article online at: https://www.worldpipelines.com/business-news/02042020/black-bear-transmission-acquires-ozark-natural-gas-transmission-business/